Trading-Guru

BCH/USD Great Buy Opportunity in Parallel Ascending Channel

Long
COINBASE:BCHUSD   Bitcoin Cash / U.S. Dollar
When looking at a pair that has a positive bullish momentum, we get the risk of entering out of FOMO.

Make sure that you don't enter when the price is really high and hasn't retraced yet. For instance, keep an eye on the RSI and don't buy when it's above ~70.

Here in this parallel channel we can see that currently we have a nice opportunity for a buy, because the price is reaching the bottom support line of the channel.

This is a great moment to enter Bitcoin Cash in this bullish market.

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

Trade closed: target reached: What a fantastic trade!


Congrats everyone who participated with me in this trade.
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Comments

Congrats on the fantastic trade you did.
How did it happen?
What was your entry point and exit point?
How much profit in % gain or in pips or in $ did it make?
keep up your great work
Reply
Trading-Guru CryptoDesperado
@CryptoDesperado, Hey Desperado! So, for this trade I used an ascending parallel channel. I applied a trade where I expected that the price would stay within the boundaries of the channel.

Entry and exit are on the chart, by hovering over the green/red shaded area. Entry was 238, exit was 245.30. Profit is 3.11%.

Hope that answers your question!
+1 Reply
interesting trade opportunity you present.
what would be your entry point and exit points for this trade setup you recommend?
keep up your great work
Reply
hi bro,good chart
share my local analysis,what do u think?
Reply
I will be posting more of these regularly, so follow me to find out about great trading opportunities
Reply
How would you have charted this? Feel free to post a link to your own idea here as well
Reply
I’m curious to hear your thoughts! Let’s make use of the fantastic tradingview community and give each other feedback.
Reply
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